3 lacs’+ SBI Group employees encouraged to transact at their own ATMs

Every organization encourages its employees and their immediate family members to try out its own services.

The major benefit is the feedback, which will guide the organization to fine-tune its offerings to the general public.

Another advantage is the savings in cost, in case the Organization has to reimburse other Organizations for the services used by its employees.

This is exactly what State Bank of India is motivating its employees in its internal communications.

SBI including its associates has 3lac employees. Assuming that apart from the employee, there are 2 family numbers, the numbers swell to 9lacs+.

On an average, SBIs employees transact about 280,000 ATM card-swipes in other banks’ cash machines per month.

The current ATM interchanges fees in India Rs15/- per transaction. This means, SBI has to shell out Rs42lacs month-on-month to other banks for its employee’s acts of withdrawing cash at other banks ATMs.

SBI hopes to substantially save the Rs5crores Interchange fees by motivating employees to swipe at their own ATMs.

There are 21,000 + SBI Group ATMs spread all over the country which ATMs of State Bank of India as well as the Associate Banks namely, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore, using the State Bank Cash Plus card.